Credit impulse in China has turned up significantly. For the next 6 months, China is going to lead the world in terms of growth and stimulus. Really attractive on a risk/reward basis compared to the rest of the developed world.
Recently rotated a lot of our precious metal allocation to silver instead of gold. More of a long-term industrial use with the electrification of the world. Precious metals in general should be alive and well for years to come.
Good for dividend portfolio? Love it. Don't own it right now to reduce exposure to energy and pipelines. 13 / 12.5 area really attractive. If you need the dividend, no reason to sell it now.
Longer-term outlook is "When will we hit peak traditional energy demand?". Big oil is not investing any more in North America. There is a window there where oil prices will stay high due to this lack of investment. Hard to time. Interesting for traders but long-term investors should sell into the strength.